A Chef D'oeuvre for BPH’s Investee Cortical, Secures Sizeable Investment from Two New Investors

It’s a milestone achievement for BPH Energy Limited’s (ASX:BPH) investee Cortical Dynamics Ltd, which has secured a substantial investment worth $250,000 from Seattle-based life science consulting firm and incubator, IntuitiveX (IX) and Korean based VC investor, Gentium Partners Inc (GP).

Cortical is a medical device technology company based in Australia, which has developed a next-gen Brain Function Monitor - the Brain Anaesthesia Response (BARM) System, assisting anaesthetists and intensive care staff in ensuring patients do not wake unexpectedly during an operation, as well as reducing the incidence of side effects associated with the anaesthetic.

BPH Energy informed that IntuitiveX will be investing ~$187k, while Gentium will be investing ~$63k in Cortical.

Moreover, IntuitiveX and Gentium will be issued with ~9.3 million and ~3.2 million shares, respectively, totalling 12.5 million shares - representing 9.8 per cent of the increased capital base.

The Company also notified that while its director, Mr David Breeze will continue to remain as a Cortical board member, two new members - Mr. Ashley Zimpel and Mr. Charles Chang will join the Cortical board subsequent to the resignations of two other directors of the firm - Mr David Liley and Mr Gary Todd.

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IntuitiveX team to Support in FDA Regulatory Approval Process

IntuitiveX management team, consisting of physicians, life science entrepreneurs, innovators and investors, will support Cortical in the process of FDA regulatory approval. The team will bring in a combined experience of more than 100 years in Clinical, Prototyping, IP Strategy, R&D, Commercialisation and Product Development.

IX has an in-house network and knowledge to fulfil the unique needs of the most advanced life science companies in the world. With investments in eleven MedTech, robotics to augmented reality, digital health and 3-D printing to biotech, IX will bring extensive experience in the US capital raising and commercialisation arena to Cortical.

IX’s Board Member, Mr. Charles Chang to join Cortical board

The Company informed that the board member and senior advisor to IntuitiveX, Mr Charles Chang, who formed Accolade, Inc. in April 2000 and Susterra EnVision, will join Cortical board as one of the new directors.

Accolade provides strategic advisory services to domestic/foreign corporates and private equity, while Susterra EnVision is a clean energy developer.

Prior to Accolade, he served as a managing director at Bankers Trust Korea.

Gentium Partners’ Investment in Cortical is a Big Hit!

Seoul-based FSS licensed asset management company, Gentium Partners prefers to invest in companies with innovative ideas and/or technologies, especially if they have a strong impact on environment, healthcare and lifestyle.

GP’s investment in Cortical seems to be driven by the latter’s cutting-edge technology, BARM.

Some of the GP’s investments include B2C payment technology based on Bluetooth identifier; the leading urban farm business in Korea; “hycore” for electrifying a 26” bicycle and a biomedical startup with a breakthrough approach for diagnosing and treating amyloid diseases.

About Cortical’s New Director - Mr. Ashley Zimpel

In addition to Mr Chang, Mr Zimpel will also join Cortical board as one of its new directors. He is a Perth based business developer, senior banker/investment banker and corporate financier, who has a broad financial markets experience.

He has a strong 35 years of track record of investing in, founding and establishing businesses in fintech, financial capital markets and Agri-business in Western Australia and Australia wide. Besides that, he has an impeccable record of capital raising in both debt, equity and structured financial products for SMEs, start-ups, government agencies and ASX listed public companies both domestically and internationally.

Long story short, BPH Energy’s investee, Cortical has marked a major breakthrough by attracting two new experienced investors that are likely to fasten the commercialisation of its BARM system. Moreover, Cortical has tapped into the wealth of expertise with the appointment of two new directors.

BPH stock last traded on 26^th February 2020 at $0.001.

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